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1-1-2018 to 6-1-2018

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Business News This Week,Startup Stories,Inspirational Stories 2018,Stock Sell in Uber,Food Ordering and Delivery Platform Swiggy,Swiggy Business News 2018,Flipkart Invest In Logistics Arm eKart,Salil Parekh New Infosys CEO,Alibaba and XpressBees Business,Startup Funding News 2018,Startup Stories Tips 2018,Biggest Startup Moments of 2017,How To Get Promoted Faster,How To Get Funding For Startups,How To Build Enterprise From Scratch


New year, new aims and new resolutions! The new year started with a bang marking the beginning of a new era for startups, innovations and inventions! If you were too caught up with New Year celebrations, catch up with the news of this week with our weekly wrap up.

ECOMMERCE SITES TO DISPLAY THE MRP AND EXPIRY DATE
This new year, all ecommerce sites will now have to display the Maximum Retail Price (MRP) and the expiry date of all the human consumable products on all their sites. This move comes after multiple customers complained about such ecommerce sites hiking the prices of their products in order to provide bigger discounts. The etailers had until January 1, 2018, to comply with the government’s order to display all the important details about the products up for sale. However, according to a survey by LocalCircles, only 42% of 10,000 respondents had seen products listed above MRP and then discounted off the inflated price.

ALIBABA TO INVEST IN LOGISTICS STARTUP XPRESSBEES
The China based ecommerce firm Alibaba has been keenly looking to invest in multiple Indian startups to build its ‘iron triangle.’ For this purpose, the company will be investing close to $ 100 million in the Pune based logistics firm XpressBees and will be closing the deal in the next two to three weeks. Till date, Alibaba and its financial arm Ant Financials have invested in online payment and digital wallet Paytm and online grocery delivery service, BigBasket.

SALIL PAREKH BECOMES THE NEW INFOSYS CEO
After months of searching and numerous disagreements with the founder of India’s largest IT firm Infosys, the company finally found a Chief Executive Officer. After the resignation of Vishal Sikka in August, Salil Parekh will be taking on the reigns of the Bengaluru based information technology (IT) major, Infosys, as the new Managing Director and Chief Executive Officer. According to sources, the new CEO will earn an annual salary of Rs. 16.25 crores, including Rs. 9.75 crores variable pay.

FLIPKART TO INVEST IN LOGISTICS ARM EKART
India’s largest ecommerce company Flipkart, in an attempt to strengthen their logistics arm, infused another $ 257.3 million in eKart. According to filings with the Registrar of Companies, Flipkart raised this sum in multiple tranches between October and November last year. In 2018, according to Kalyan Krishnamurthy, the company would now be focusing on increasing its monthly active users and increasing its revenue.

SWIGGY TO RAISE $ 200 MILLION FROM NASPERS AND TENCENT
 One of India’s fastest growing food ordering and delivery service startup Swiggy will be raising close to $ 200 million from Chinese investment conglomerate Tencent and existing investor Naspers. After ending independent discussions with Japan based venture firm SoftBank, the company is looking to raise funds at a pre money valuation of $ 600- $ 650 million. According to sources, Tencent, which will join the Swiggy bandwagon as a new investor also proposed to increase their investment in the startup to around $ 100 million.

UBER CO FOUNDER TRAVIS KALANICK TO SELL 29% OF STOCK
After facing scandal upon scandal and fighting multiple lawsuits, the global taxi hailing startup Uber is finally on track to raise much needed capital from SoftBank and other investors. For this purpose, the co founder of Uber and former CEO Travis Kalanick will be selling 29% of his stock in Uber for about $ 1.4 billion. As a part of the latest investment round, SoftBank and a consortium of investors have agreed to buy stock from existing investors and employees, valuing the company at $ 48 billion. Post this transaction, SoftBank will take a 17% stake in the ride hailing services company.

That’s all for this week! Subscribe to our portal to never miss updates from the startup world! If your startup has an exciting announcement coming up, you can even write to us at [email protected]. Catch up with the highlights of the week with our The News This Week section.

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CES 2019: The Best Innovations Announced

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The Consumer Electronics Show (CES,) one of the largest tech shows held at Las Vegas every January, hosts over 180,000 people with ideas, innovations and new creations fit for a future world! With artificial intelligence (AI) playing the central theme at the show, different startups and tech establishments told us where technology is heading toward in the coming years. From self driving suitcases to flying taxis, here’s taking a look all the inventions which were on display at the CES this year!

1. Ovis Luggage

Developed by a Chinese company called Forward X Robotics, the idea behind Ovis Luggage is to help carry your luggage around without having to put in any physical effort. By using facial recognition and movement tracking algorithms, the bags come fully equipped with cameras which track the surroundings perfectly. To amp up the excitement level, the bags have also been designed to stick to their owners at the speed of 6 miles per hour and through the movement tracking algorithms, they can also avoid colliding into people beyond a certain radius! If by chance the bag does go missing, you can track the suitcase by using the inbuilt GPS system! Priced at $ 799, the bags are expected to go on sale within the next few months.

2. Lenovo Smart Clock

A little over a year after announcing their first invention together, Google and Lenovo came back with another cutting edge invention called the Lenovo Smart Clock. The AI enabled smart clock comes with touch sensors and is designed to map your schedule from sunrise to sunset. Starting half an hour before your alarm is scheduled to ring, the smart clock also functions as a Google smart speaker, which means the clock can send music and podcasts (among other things) to your phone through Chromecast. Priced at $ 80, the smart clock will go on sale this spring!

3. Obsbot Tail AI Camera

While the last major innovative improvement (when it came to cameras,) was in the form of the 360 degrees video, the CES summit saw a new breakthrough in this field. China based startup Obsbot built a camera which uses artificial intelligence in the best way possible. Called the Tail, not only can this camera take extremely smooth pictures and videos, it identifies subjects in the shoot and tracks them using AI. With the ability to switch without friction between different models, this camera is perfect for people looking at making videos without the requirement of someone operating the camera manually. Equipped with the ability to shoot up to 4K/60 fps videos and to support HDR 10, the Tail is going to be priced at $ 500 and will be available at Kickstarter.

4. Riding High

At a time when ride sharing cabs like Ola, Uber and Lyft are at the peak of their performance levels, it comes as no surprise, people are looking at creating new ways of sharing rides. A partner of Uber, Bell Helicopters, launched a brand new flying taxi called Nexus Air Taxi. AI empowered, the taxi will seat four passengers and a pilot and will have a range of 150 miles, with the highest speed being 150 mph. Expected to launch next year, the Nexus is looking at being available in major cities by mid 2020.

5. Magic Mirror

Looking at yourself in the mirror and checking yourself out can never be boring! Developed by Electric Mirror Inc., in Everett, Washington, the Savvy Smart Mirror is perhaps the most interesting development in this mix. Designed to resemble a massive touchscreen, the Savvy Smart Mirror is not only a looking glass, but also can be used to show weather reports, play music and connect to your social media accounts as well. Apart from the other features available, the Savvy Smart Mirror also lets you control and adjust the thermostat controls in your room. Initially designed for hotels, the mirror is also going to be designed for homes. Priced at a whopping $ 2,500, the mirror is expected to go on the market soon.

With so many exciting innovations being introduced, the year is definitely dedicated to innovation and creations. What invention are you looking forward to owning the most? Comment and let us know!

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Instagram 2.0? Swipe Feature Tested In Massive Roll Out Error

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Instagram 2.0? Swipe Feature Tested In Massive Roll Out Error

Photo sharing platform Instagram briefly rolled out a massive update to their app changing their entire user interface (UI) by mistake. However, a couple of minutes later, the platform downgraded to the previous version, going back to their typical vertical list of posts. The head of Instagram, Adam Mosseri, confirmed the massive rollout was an error by the company.

This new version of Instagram replaced the scroll feature from the app and introduced a new feature wherein users could either tap or swipe to go to the next post on their feed. In order to explain the way the new app works to existing users, the app also displayed a messaged which read, “Introducing a new way to move through posts. Tap through posts, just like you tap through stories.” It then instructs the users to “tap [the screen] to see the next post.”

The new feature was not meant for a wide scale rollout, however, the update was an attempt improve the experience of the existing users and to transform the way Instagram looks and feels by mimicking the Stories feature.

While the Stories feature was initially started by Snapchat, Instagram took the feature to an all new level, integrating the popularity of the feature onto its app and centering its USP around this subject entirely! Although a news daily reported the update was initially rolled out for people only living in the United Kingdom during the day, the new feature was visible to people all over the world during different parts of Thursday. The new update also started trending on Twitter with the hashtag #NewInstagram.

Over the last few months, social media platforms like Facebook, Instagram and Twitter have been trying to up their game in terms of user interface, readability and ease of access. While Facebook has been constantly working on its branding, Instagram hasn’t done much to change its appearance. Whether the platform will officially roll out the new update is yet to be seen.

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Startups Which Achieved The Unicorn Status In 2018

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Startups Achieved Unicorn Status,Startups Unicorn Status in 2018,Unicorn Startup India,Unicorn Startups 2018,Word Unicorn Trends 2018,Zomato,Oyo,Byju’s,Paytm Mall,Swiggy,Freshworks,Unicorn Startups in India 2018,New Indian Startup Unicorns,Best Startup Ideas 2018, Best Startups in India 2018,Startup Stories

The word unicorn started trending in the beginning of 2018 and to define the term simply, it refers to startups which have a valuation of more than $ 1 billion. As this year comes to a close, here’s taking a look at all the different startups which entered the billion dollar club and earned themselves the unicorn status.

1. Zomato 

Zomato, a food delivery and restaurant discovery startup based out of Gurugram, raised over $ 200 million in a funding round held in February 2018 and since then, there is no stopping the growth of this particular startup. With multiple rounds of investment from various areas, the valuation of Zomato increased by leaps and bounds and right now, toward the close of 2018, this particular food tech startup has an estimated valuation of $ 1.1 billion!

2. Oyo 

Founded in the year 2013, service apartment provider Oyo entered the Unicorn Club in September by raising $ 1 billion from existing investor, SoftBank. Founded by Ritesh Agarwal, Oyo has grown so much over the years in the last five years that it is now extremely popular in places like India, China, west Asia, the UK and the UAE.

3. Byju’s 

When Byju’s was initially founded, the startup barely had a major presence in India. However, through the years, Byju’s grew to become the next Indian startup to enter the Unicorn Club! Standing at a valuation of approximately $ 2 billion, Byju’s became the first startup in the edutech field in India to be valued at more than a billion dollars!

4. Paytm Mall

A subset of Paytm, Paytm Mall came to be in 2016 and with an investment of $ 450 million from existing investors, Paytm Mall is now valued at more than one billion dollars! Using the investments to improve their existing features and to better the customer experience, Paytm Mall will likely achieve $ 10 billion in merchandise volume. Furthermore, with the investment Paytm received, the app is looking at allowing customers to walk into offline stores, scan products through QR codes, go through information about the products and finally, purchase the product through the app.

5. Swiggy 

Food delivery startup Swiggy raised $ 1 billion from Naspers and post that, the startup has grown to stand at a valuation of over 3.3 billion dollars! Not only is Swiggy the second food tech startup to enter the billion dollar club, it is also the fastest startup in India which grew to reach that place. The startup entered the Unicorn Club in just under four years, a feat which is truly commendable.

6. Freshworks 

Based out of Chennai, Freshworks is a software as a service (SaaS) provider, which entered the billion dollar club in August this year. Freshworks entered the Unicorn Club post securing a $ 100 million investment from Sequoia Capital, Accel Partners and CapitalG!

With so many startups achieving the unicorn status through sheer hard work and dedication to innovation, the unicorn status is truly a coveted symbol to achieve. If you think we missed out on other startups in this field, comment and let us know!

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